Deutsche Bank is to set up a securities joint venture with Shanxi Securities, while Credit Suisse and Founder Securities will form a JV to underwrite Chinese stocks and bonds.

Deutsche Bank announced yesterday that it has received regulatory approval to set up a securities joint venture with Shanxi Securities, making it the latest international bank to gain access to ChinaÆs equity and bond markets. The approval comes one week after a joint venture between Credit Suisse and Founder Securities received a business permit that will enable it to start offering investment banking services in the domestic Chinese market. The moves suggest that Beijing may becoming more open to allowing...